Single-Story Flex Industrial
For Sale
$449,925
64 Cody Street, West Hartford, CT 06110
Masonry flex property with loading access, paved parking, and office air conditioning in an industrial zone.
Property Size3,312 SF
Lot Size0.17 Acres
Price / SF$135.85
Days on Market24
Property Features for 64 Cody Street
General Information
Standard status
Active
Size
3,312 SF
Lot size
0.17 Acres
Property subtype
Commercial
Zoning
IG
Additional Details
Clear Height
12 ft
Taxes and HOA fees
Annual Taxes
$6,746
Building Details
Building Size
3,312 SF
Year Built
1953
Buildings
1
Stories
1
Construction
masonry
Listing Agency:
Five Stars Realty
(860) 306-0010
Listed By:
Maria Pirulli · License #RES.0828984
(860) 306-0010
Source:
Westshorerealty
Added: Jul 20
Changed: Aug 12
Last Checked: Aug 12 at 12:32PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Five Stars Realty
Investment Insights
Based on property information with market context.
This single-story flex property offers approximately 3,312 square feet within a masonry-built industrial building on a 0.17-acre lot. The functional layout includes a concrete slab floor, 12-foot ceilings, an overhead commercial door, forced hot air heating, and office space served by central zoned air conditioning. The shop area is heated without air conditioning.
Paved parking and delivery access support day-to-day operations. The property is located at 64 Cody Street in West Hartford, Connecticut, with convenient proximity to major roadways for employee, client, vendor, and freight access. IG zoning and the building’s configuration support industrial, warehouse, distribution, manufacturing, contractor, and related commercial uses identified in the property information.
Paved parking and delivery access support day-to-day operations. The property is located at 64 Cody Street in West Hartford, Connecticut, with convenient proximity to major roadways for employee, client, vendor, and freight access. IG zoning and the building’s configuration support industrial, warehouse, distribution, manufacturing, contractor, and related commercial uses identified in the property information.
Key Highlights
- Approximately 3,312 square feet on a 0.17‑acre lot
- Masonry‑built, single‑story industrial building
- 12‑foot ceiling height with concrete slab flooring
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$37,333
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$746,660
$746.7K
Cap Rate 7%
$533,329
$533.3K
Cap Rate 9%
$414,811
$414.8K
Market Conditions
NOI Build-Up for 3,312 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$56.4K $17.04/SF
− Vacancy
−$3.1K −$0.94/SF
EGI
$53.3K $16.10/SF
− OpEx
−$16.0K −$4.83/SF
NOI
$37.3K $11.27/SF
Area
Hartford, CT
Vacancy
5.50%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$746,660
Cap Rate 7%
$533,329
Cap Rate 9%
$414,811
Alternative Uses
Best Use
Warehouse
$653.1K
$571.5K – $761.9K
NOI $45,716 @ 7.0% cap · market cap 10.16%
Second Best
Flex RnD
$624.4K
$546.4K – $728.5K
NOI $43,710 @ 7.0% cap · market cap 9.71%
Theoretical Best
Office A
$987.2K
$863.8K – $1.15M
NOI $69,105 @ 7.0% cap · market cap 15.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12 ft
Clear height
Location Intelligence
Trade Area within ½ mile
876
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 06110, CT
13,004
Population
5,540
Households
2.3
Avg Household Size
39
Median Age
41%
College-Educated
86%
High-School Grad
3.3 sq mi
ZIP Area
3,941
Density / Sq Mi
$81,972
Median Household Income
$51,576
Median Earnings
$1,542
Median Rent
$269,300
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Masonry flex property with loading access, paved parking, and office air conditioning in an industrial zone.
Where is this flex space located?
The property is located at 64 Cody Street West Hartford, CT.
What is the asking price?
The asking price for this property is $449,925.
What are key features of this property?
This property features: Approximately 3,312 square feet on a 0.17‑acre lot; Masonry‑built, single‑story industrial building; 12‑foot ceiling height with concrete slab flooring
